Market Pay Expands Its in-store Payment Capabilities With the Acquisition of Novelpay, a Leading ISV Provider of Payment Terminal Solutions
Market Pay Group (“Market Pay”) today announces that it has signed an agreement for the acquisition of Polish fintech Novelpay, including its French subsidiary PAX France Novelpay, to further accelerate the development of its pan-European payments platform.
Novelpay is one of Europe’s fastest growing players for the development of independent software vertical (“ISV”) solutions for payment terminals and associated terminal distribution.
Novelpay currently deploys its products and services in 14 European countries with customers comprising banks/acquirers, processors and value-added services (“VAS”) solution providers. Market Pay will benefit from a number of Novelpay’s already successful operational activities, such as:
– Development of applications for payment devices with a leading-edge expertise covering different operating environments (Android, Linux, RTOS). Today, Novelpay has a market-leading capability that enables the functioning of many critical standards (examples: Nexo or CB6), including level three device certification.
– Distribution of PAX Technology (“PAX”) terminals. PAX is the second largest vendor of payment terminals worldwide and a market leader in the Android point of sales (“POS”) terminals. It currently offers the largest range of certified Android-based devices globally.
This acquisition will enable Market Pay to further strengthen and develop its existing strong product offering, as well as accelerating the deployment of its unified payment platform across Europe. It will also benefit an ongoing strategy to internalise the majority of in-store technology bricks, following the successful integration of dejamobile and its softPOS technology.
Market Pay and Novelpay will work together on the development of new in-store solutions that will be offered to Market Pay’s European customer base. This will be supported by Novelpay’s highly talented product development team to bolster Market Pay’s R&D platform, thereby giving the company an extended technological expertise for its in-store offering, with the combined group now reaching over 300 employees.
Novelpay is the third bolt-on acquisition for Market Pay in less than 2 years, following the acquisition of payment platforms Acoustic and dejamobile. These strategic expansions demonstrate Market Pay’s ability to successfully execute its ambitious growth development plan supported by AnaCap who invested in April 2021 alongside the existing entrepreneurial management team and its historical shareholder Carrefour.
Nassim Cherchali, Co-Managing Partner at AnaCap, commented:
“This transaction is the third bolt-on acquisition for Market Pay in less than 2 years and gives further momentum for its intention to become the leading pan-European integrated payments platform. These carefully targeted acquisitions demonstrate Market Pay’s ability to successfully execute its ambitious growth development plan, supported by AnaCap alongside the existing entrepreneurial management team.”
Alberto Sainaghi, Investment Director at AnaCap, concluded:
“We are very pleased to support this transaction which complements the high growth trajectory of Market Pay while also enabling further geographic expansion. This acquisition provides the opportunity to expand Market Pay’s suite of innovative payments software solutions as well as additional value-added services through a seamless in-store experience.”
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